18 Exercise 7-26 (Static) Net Position Classifications (LO 7-5] 0.89 points The Village of Shelburne operates a nine-hole golf course as an enterprise fund. You are provided with the following information for the current year: eBook 1. Net income for the year was $161,511. 2. The beginning net position balances are net investment in capital assets, $585,400; restricted, $5,000; and unrestricted, $254,790. 3. New golf carts were leased. The present value of the lease liability is $200,000. A principal payment of $40,000 was made during the year, and amortization of the leased asset totaled $37,500. 4. Lawn edging equipment with a carrying value of $6,100 was sold for $6,300. 5. A new lawn mower was purchased for $75,000. At the end of the year, a $25,000 note associated with the machine remains outstanding. Depreciation of the mower was $7,500. 6. Additional depreciation totaled $30,000. Print Reference Required Prepare the net position section of Shelburne's statement of net position. VILLAGE OF SHELBURNE Golf Course Enterprise Fund Partial Statement of Net Position As of year-End Net Position: Net PositionNet Investment In Capital $ 594,300 Assets Net Position-Restricted 5,000 Net PositionUnrestricted 407,401 $ Total Net Position 1,006,701